Wade reportedly agreed to a two-year, $47 million deal to join the Chicago Bulls on Wednesday night after negotiations with the Miami Heat broke down, meaning he would leave the team he helped lead to three NBA championships. The Vertical reported the Heat refused to add a third year in its contract proposal, leading Wade to choose the Bulls.

Earlier in the day, Wade met in New York with one of the Bucks' primary owners, Marc Lasry, in a meeting that lasted one hour.

But the Bucks' salary cap situation remained the same, and Lasry was not able to make an offer to the 34-year-old Wade. Milwaukee needed to trade a big contract — such as Greg Monroe's $17.1 million salary for next season — to create cap space to sign Wade.

Wade also met with Denver Nuggets officials for two-plus hours and later had a meeting with Heat owner Micky Arison, also in New York. The Nuggets reportedly offered Wade a two-year deal worth $52 million while the Heat earlier made a two-year, $40 million offer to him.

Wade was unhappy with the way negotiations proceeded with Miami, the only team he has played for in his 13-year pro career. He was a 12-time all-star in Miami and was named most valuable player of the 2006 NBA Finals, his first of three rings and the only one he won without LeBron James as a teammate.

Miami signed big man Hassan Whiteside to a four-year, $98 million deal in free agency and put Wade on hold while it pursued free agent Kevin Durant. But Durant agreed to a two-year deal with the Golden State Warriors.

Wade played last season on a one-year, $20 million contract and helped the Heat reach the playoffs despite the absence of Chris Bosh, who was sidelined during the second half of the season with blood clot issues.

The Bulls had to unload some contracts to make room for Wade in their salary structure and were working at making those moves, reports said. Former Bucks forward Mike Dunleavy, who played the past two seasons in Chicago, was traded to the Cleveland Cavaliers as part of that process and Jose Calderon was dealt to the Los Angeles Lakers, according to reports.

Cleveland was able to use a $4.8 million trade exception to absorb Dunleavy's contract. The Bucks also were reported to have interest in Dunleavy.

Wade will return to his hometown and join a revamped Bulls team now without Derrick Rose and Joakim Noah. Wade will play with Jimmy Butler and Rajon Rondo in a much different looking Chicago lineup.

The Bucks were intrigued by Wade's leadership potential with their young players but already had committed free agent money to more pressing needs, including shooting and point guard help.

Wade told Lasry he was impressed with the Bucks' young core, including Giannis Antetokounmpo, Khris Middleton and Jabari Parker. Wade and Middleton worked out together in Miami last summer and struck up a friendship.

The Bucks-Bulls rivalry should get some extra zip with native Chicagoan Parker playing for Milwaukee and Wade, the former Marquette star, now with the Bulls.

The Bucks are still hoping to re-sign restricted free agent center Miles Plumlee. They have agreed to deals with former Phoenix forward Mirza Teletovic and former Cleveland guard Matthew Dellavedova.

The free-agent deals with Teletovic (three years, $30 million) and Dellavedova (four years, $38 million) can become official Thursday when the league moratorium period on signings ends.

Olympic update: Antetokounmpo scored 21 points to lead Greece to an 86-70 victory over Mexico in an Olympic qualifier in Turin, Italy.

The 21-year-old Bucks player did not play in the fourth quarter and was 6 of 10 from the field and 3 of 5 from three-point range as Greece cruised into the tournament semifinals. Thanasis Antetokounmpo, Giannis' older brother, contributed 12 points.

Croatia rolled past Tunisia, 72-52, to finish second in Group B and advance to a semifinal matchup against Greece on Friday. Group B winner Italy will play Mexico in the other semifinal.

The title game is scheduled Saturday and the winner will advance to the Rio Olympics.

Bucks backup point guard Tyler Ennis scored 12 points and added three assists to help Canada survive Senegal, 58-55, and reach the semifinals of another Olympic qualifying tournament, this one being held in the Philippines. Ennis was 5 of 12 from the field.